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Industrial and Commercial LED Lighting Market Report by Product Type (LED Lamps, LED Fixtures), Application (Indoor Lighting, Outdoor Lighting), Distribution Channel (Direct Sales, Online Stores, Specialty Stores, and Others), End User (Industrial, Commercial), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6206
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Market Overview:
The global industrial and commercial LED lighting market size reached USD 48.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 127.3 Billion by 2032, exhibiting a growth rate (CAGR) of 11% during 2024-2032. The increasing focus on energy efficiency and sustainable lighting solutions, stringent government regulations and policies promoting the adoption of energy-efficient lighting systems, and declining prices of LED lighting products represent some of the key factors driving the market.
|
Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023
|
|
Forecast Years
|
2024-2032
|
|
Historical Years
|
2018-2023
|
|
Market Size in 2023
|
USD 48.9 Billion |
|
Market Forecast in 2032
|
USD 127.3 Billion |
| Market Growth Rate 2024-2032 | 11% |
Industrial and commercial LED lighting is an innovative lighting solution that is made by combining a diode, a driver, and a heat sink in a durable and energy-efficient package. They consist of several components, including an epoxy case, wire bond, reflectivity cavity, semiconductor diode, and a lead frame with two leads. LED lights have a longer lifespan and are an energy-efficient and cost-effective alternative. In comparison to incandescent and fluorescent lights, LED lights emit less heat and contain no toxic substances like mercury, making them a safer and more eco-friendly option. Currently, there are a wide variety of product variants available, including high bay lights, floodlights, and panel lights, among others. These lights offer flexibility and customization to fit the specific needs of different commercial and industrial applications.
Industrial and Commercial LED Lighting Market Trends:
The increasing focus on energy efficiency and sustainable lighting solutions and stringent government regulations and policies promoting the adoption of energy-efficient lighting systems are some of the primary factors propelling the market growth. Moreover, the declining prices of LED lighting products, coupled with advancements in technology, are acting as another growth-inducing factor. Furthermore, the growing awareness regarding the environmental benefits of LED lighting, such as reduced carbon emissions and lower environmental impact, is favoring the market growth. Moreover, the rising demand for smart lighting solutions, and the rapid urbanization and infrastructural development are creating a positive outlook for the market. Besides this, the escalating adoption of the Internet of Things (IoT) technology in lighting systems and the surging demand for retrofitting conventional lighting systems with LED lights to improve energy efficiency and reduce maintenance costs are fueling the market growth. Apart from this, the expanding automotive and transportation sector, the growing trend of smart cities, and the integration of LED lighting in urban infrastructure projects are driving the market growth. Other factors, such as the shifting focus on enhancing workplace safety and productivity and the advancements in LED technology, such as miniaturization and improved light quality, are providing a significant boost to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial and commercial LED lighting market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, application, distribution channel and end user.
Product Type Insights:
- LED Lamps
- LED Fixtures
The report has provided a detailed breakup and analysis of the global industrial and commercial LED lighting market based on the product type. This includes LED lamps and LED fixtures. According to the report, the LED fixtures segment dominates the market.
Application Insights:
- Indoor Lighting
- Outdoor Lighting
The report has provided a detailed breakup and analysis of the global industrial and commercial LED lighting market based on application. This includes indoor lighting and outdoor lighting. According to the report, the indoor lighting segment holds the largest market share.
Distribution Channel Insights:
- Direct Sales
- Online Stores
- Specialty Stores
- Others
The report has provided a detailed breakup and analysis of the global industrial and commercial LED lighting market based on the distributional channel. This includes direct sales, online stores, specialty stores, and others.
End User Insights:
- Industrial
- Commercial
The report has provided a detailed breakup and analysis of the global industrial and commercial LED lighting market based on the end user. This includes industrial and commercial.
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. As per the report, North America dominates the market. Some of the factors accelerating the North America industrial and commercial LED lighting market include growing emphasis on energy efficiency and sustainability initiatives, government regulations and policies aimed at reducing carbon emissions and promoting energy-efficient practices and increasing awareness and demand for smart lighting solutions.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global industrial and commercial LED lighting market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
- Acuity Brands lighting Inc.
- ams-OSRAM AG
- Cree Lighting (Ideal Industries Inc.)
- Dialight plc
- Eaton Corporation plc
- Emerson Electric Co.
- Litetronics International Inc.
- Schneider Electric SE
- Signify N.V.
- Syska Hennessy Group
- Zumtobel Group
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Billion USD |
| Segment Coverage | Product Type, Application, Distribution Channel, End User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Acuity Brands lighting Inc., ams-OSRAM AG, Cree Lighting (Ideal Industries Inc.), Dialight plc, Eaton Corporation plc, Emerson Electric Co., Litetronics International Inc., Schneider Electric SE, Signify N.V., Syska Hennessy Group and Zumtobel Group |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the global industrial and commercial LED lighting market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global industrial and commercial LED lighting market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the global industrial and commercial LED lighting industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
The global industrial and commercial LED lighting market was valued at USD 48.9 Billion in 2023.
We expect the global industrial and commercial LED lighting market to exhibit a CAGR of 11% during 2024-2032.
The rising demand for LED lighting across the industrial and commercial sectors, as they offer various advantages, including high durability, cost-effectiveness, long shelf life, low voltage operations, etc., is primarily driving the global industrial and commercial LED lighting market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for industrial and commercial LED lights.
Based on the product type, the global industrial and commercial LED lighting market has been segregated into LED lamps and LED fixtures, where LED fixtures currently hold the majority of the total market share.
Based on the application, the global industrial and commercial LED lighting market can be bifurcated into indoor lighting and outdoor lighting. Currently, indoor lighting exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global industrial and commercial LED lighting market include Acuity Brands lighting Inc., ams-OSRAM AG, Cree Lighting (Ideal Industries Inc.), Dialight plc, Eaton Corporation plc, Emerson Electric Co., Litetronics International Inc., Schneider Electric SE, Signify N.V., Syska Hennessy Group, and Zumtobel Group.
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